ADVERTISEMENT
U.S. Stock Futures Rise After ECB Steps Up Stimulus
U.S. stock futures erase earlier losses after the ECB announced a pandemic bond purchase program.
19 Mar 2020, 02:05 PM IST 
A monitor displays stock market information on the floor of the New York Stock Exchange in New York, U.S. (Photographer: Michael Nagle/Bloomberg)
(Bloomberg) -- U.S. stock futures rose, erasing earlier losses, after the European Central Bank announced a pandemic purchase program and said it will consider revising its quantitative easing limits.
June futures contracts on the S&P 500 gained as much as 2.4%, erasing a drop of 1.6%. The index ended the cash session lower by 5.2%, with investors increasingly concerned the U.S. policy response won’t be enough to prevent a deep recession. It is is down more than 30% from an all-time high set a month ago, in the fastest plunge from a peak into a bear market on record.
Europe has surpassed China in its number of confirmed coronavirus cases and deaths from the disease, according to data compiled by Bloomberg.
©2020 Bloomberg L.P.